ImmPACT Bio USA Inc. announced that it will issue 7,102,820 series B preferred shares at issue price of $15.6073 per share for the gross proceeds $110,855,842.586 in funding on January 14, 2022. The shares are convertible and cumulative. The shares carry cumulative fixed dividend rate of 8% per annum.

The shares will be convertible in common shares at a fixed conversion price of $15.6073 per share. The company will issue securities pursuant to exemption provided under Regulation D.